Comptroller of the Currency
Administrator of National Banks

On December 23, 2008, the Board of Governors of the Federal Reserve System (the Board) published in the Federal Register the attached final rule amending the staff commentary that interprets the requirements of Regulation C.  By this amendment, the Board has raised the asset size exemption threshold to $39 million for depository institutions that are required to report data under the Home Mortgage Disclosure Act (HMDA).  The previous exemption level was $37 million.  Institutions with assets of $39 million or less as of December 31, 2008, will not be required to collect HMDA data in 2009.  This revision is mandated by provisions of the Economic Growth and Regulatory Paperwork Reduction Act of 1996.  The adjustment reflects changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers for the 12-month period ending in November 2008.

An institution’s exemption from collection data in 2009 does not affect its responsibility to report the data that it was required to collect in 2008.  The adjustment became effective January 1, 2009.

If there are questions on this adjustment or any other HMDA-related issue, please contact the HMDA help line at (202) 452-2016 or send an e-mail to hmdahelp@frb.gov.  Questions may also be addressed to your supervisory office or to the Compliance Policy Division at (202) 874-4428.